Grayscale and CoinShares File for Litecoin, Solana, and XRP Exchange-Traded Funds

Grayscale Investments and CoinShares have filed for multiple crypto exchange-traded funds, targeting assets including Litecoin, Solana, and XRP

Grayscale and CoinShares File for Multiple Crypto Exchange-Traded Funds

Key TakeawaysGrayscale has filed for two new ETFs, targeting Litecoin and Solana.CoinShares has also submitted filings for a Litecoin ETF and an XRP ETF.Both firms are seeking to expand the range of regulated investment options in the crypto market.Grayscale Investments and CoinShares are expanding their footprints in the crypto exchange-traded fund (ETF) domain with multiple filings.

Grayscale is targeting Litecoin and Solana ETFs, while CoinShares is aiming for a Litecoin ETF and an XRP ETF. Both firms are seeking to broaden the landscape of regulated investment vehicles in the digital asset class.

Grayscale Submits Filings for Litecoin, Solana ETFsGrayscale has submitted applications with the U.S. Securities and Exchange Commission (SEC) for two new ETFs, aiming to track the price movements of Litecoin (LTC) and Solana (SOL) without necessitating direct ownership of the cryptocurrencies.

The Litecoin ETF will track LTC’s price, building on the firm's existing Litecoin Trust product. Grayscale had previously filed to convert its Grayscale Solana Trust (GSOL) into a spot Solana ETF, with the SEC's decision initially slated for January 23.

However, no public comment or action was noted from the SEC, indicating a potential extension in the review period. In its latest filing, Grayscale appears to be addressing previous regulatory concerns and providing greater clarity on the ETF's structure, custody, and compliance measures. This move may enable the SEC to reconsider the proposal with a more comprehensive framework for evaluation.

CoinShares Files for Litecoin, XRP ETFsCoinShares is also entering the fray with its own filings. The firm is seeking to launch a Litecoin ETF and an XRP ETF, according to SEC filings.

The XRP ETF will aim to replicate the performance of XRP while easing the challenges of direct custody, as stated in the filing. Several other funds, including Bitwise, ProShares, Wisdom Tree, and REX Shares, have also filed for XRP ETFs.